Would like some feedback on my latest rental purchase

[Christopher McGuire]

I've been doing this for a few years now and feel like I know what I am doing, but I also know it's good to get feedback from other investors to keep myself in check. I guess I'm looking for validation that I am on the right path.

Anyway, here is my latest deal. Thoughts?

Purchase Price and closing costs - $30,000

Rehab -               $5,000

All in Price -         $35,000

Market rent is  $750 a month but I like to go below market to get it rented fast. So $725 for rent.

Gross Annual Revenue - $8,700

Effective Gross Revenue (10% vacancy)  - $7,830

Expenses

Mortgage 15 year at 5% (15% down) - $2,820 per year  ($235/month)

Taxes - $400 per year

Insurance - $500 per year

Capex 10%- $830 per year

Routine Maintenance 10% - $830 per year

Property Management 10% - $830 per year (although I do self manage)

Profit of $1,620 per year

Thanks for your time.